The government will raise ¢1.71 billion to refinance Treasury-bill maturities worth ¢1.57 billion this Friday February 17, 2023.

This will be done through the issuance of the 91-day and 182-day bills.

In recent times, the government T-bills auction have been hugely oversubscribed.

Analysts expect investor demand to be robust in the next auction, depressing yield.

Last week, the government accepted ¢3.35bn out of total bids of ¢3.38bn across the 91-day to 364-day tenors.

The uptake exceeded the auction target of ¢2.76bn by 21.40%.

The yields on the 91 and 364-day tenors retreated to 35.73% and 35.62%, but the rates are still high.

The 182-day yield increased by 3.0 basis points to 35.84%, exceeding the 364-day yield in the process.

According to the result, ¢2.086 billion was mobilised from the 91-day T-bill. However, the government accepted ¢2.075 billion of the bills tendered.

Also, ¢876.6 million was obtained from the 364-day bill, out of which government accepted ¢875.68 million.

For the 182-day T-bill, the government accepted ¢398.65 million from a total bid of ¢415.55 million.